View full page at energyexch.com

 

Crude Oil Price Update – Finishing Under $35.49 Forms Potentially Bearish Closing Price Reversal Top

From fxempire.com

Daily Swing Chart Technical Analysis The main trend is up according to the daily swing chart. The uptrend was reaffirmed earlier today when buyers took out Friday’s high. A trade through $31.14 will change the main trend to down. The minor trend is also up, however, turning lower for the session has put the market in a position to form a potentially bearish closing price reversal top. A confirmation of the chart pattern could lead to a 2 to 3 day correction, or even a change in trend if the follow-through selling is strong enough. The main range is $54.86 to $17.27. Its retracement zone at $36.07 to $40.50 is the ... (full story)

Story Stats

  • Posted:
  • Category: Technical Analysis